Bottom Right Default
State Name: New Jersey
State Name underscore: New_Jersey
State Name dash: New-Jersey
State Name lower underscore: new_jersey
State Name lower dash: new-jersey
State Name lower: new jersey
State Abbreviation: NJ
State Abbreviation Lower: nj

MND NewsWire features plain and simple interpretations of industry related data and events written in a manner that maintains the interest of random readers while still catering to the perspective of a housing market professional.

Lender Processing Services (LPS) said today that the
national foreclosure pre-sale inventory is at its lowest level since 2008. The inventory, the number of loans that are
in some stage of foreclosure, now represents 2.54 percent of mortgaged homes. The rate dropped 3.23 percent from September
to October and is nearly 30 percent below its level in October 2012. There are now 1.276 million homes in the
inventory.

The information was included in LPS' regular preview
of its monthly Mortgage Monitor. The Monitor
presents loan-level information from the LPS database representing approximately
70 percent of the mortgage market. The full report will be published by
December 9.

LPS said in October there were 3.152 million
mortgage loans that were 30 or more days past due but not yet in foreclosure, a
delinquency rate of 6.28 percent. This
is a decrease of 2.80 percent since September and 10.69 percent year-over-year. Of
these delinquent loans, 1.283 million are seriously delinquent, that is 90 or
more days past due but not yet in foreclosure.

Including delinquent loans and loans in the foreclosure
inventory there were 4.43 million distressed mortgages throughout the U.S. in
October. Mississippi has moved into
first position among states with the highest percentage of non-current loans. It is followed by Florida, New Jersey, New
York and Louisiana.

Founded in 2004, Mortgage News Daily has established itself as a leader in housing news, analysis and data. Our innovative social media platform combines industry leading content and data with an active community of industry professionals, to accomplish our primary goal - keeping our readers informed.